Leases

12 Months Ended

Dec. 31, 2023

The components of lease expense were as follows:


	For the Year Ended December 31,
	2023		2022		2021
	(In thousands)
Operating lease cost	$	70,722	$	81,410	$	64,902
Finance lease cost
Amortization of leased assets	42,345		24,644		14,196
Interest on lease liabilities	5,521		3,891		2,768
Total finance lease cost	47,866		28,535		16,964
Short-term lease cost	4,788		5,749		6,264
Variable lease cost	6,921		6,592		7,409
Net lease cost	$	130,297	$	122,286	$	95,539

Other information related to leases was as follows:


	For the Year Ended December 31,
	2023			2022			2021
Supplemental Cash Flows Information (in thousands)
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows for operating leases	$	73,774		$	81,044		$	64,786
Operating cash flows for finance leases	5,419			3,933			1,745
Financing cash flows for finance leases	66,398			40,673			20,373

Weighted Average Remaining Lease Term (years)
Operating leases	6.1			4.2			3.2
Finance leases	3.2			2.3			3.1

Weighted Average Discount Rate
Operating leases	5.2		%	4.4		%	3.6		%
Finance leases	5.7		%	4.1		%	3.2		%

Maturities of lease liabilities were as follows:


	December 31, 2023
	Operating Leases		Finance Leases
	(In thousands)
2024	$	36,916	$	62,306
2025	19,869		25,259
2026	12,752		11,436
2027	9,144		3,568
2028	6,017		2,511
Thereafter	20,488		12,913
Total future minimum lease payments	105,186		117,993
Less: Imputed interest	(14,733)		(12,438)
Total	$	90,453	$	105,555

As of December 31, 2023, we have entered into additional lease agreements that have not yet commenced of approximately $8 million.

The components of lease expense were as follows:


	For the Year Ended December 31,
	2023		2022		2021
	(In thousands)
Operating lease cost	$	70,722	$	81,410	$	64,902
Finance lease cost
Amortization of leased assets	42,345		24,644		14,196
Interest on lease liabilities	5,521		3,891		2,768
Total finance lease cost	47,866		28,535		16,964
Short-term lease cost	4,788		5,749		6,264
Variable lease cost	6,921		6,592		7,409
Net lease cost	$	130,297	$	122,286	$	95,539

Other information related to leases was as follows:


	For the Year Ended December 31,
	2023			2022			2021
Supplemental Cash Flows Information (in thousands)
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows for operating leases	$	73,774		$	81,044		$	64,786
Operating cash flows for finance leases	5,419			3,933			1,745
Financing cash flows for finance leases	66,398			40,673			20,373

Weighted Average Remaining Lease Term (years)
Operating leases	6.1			4.2			3.2
Finance leases	3.2			2.3			3.1

Weighted Average Discount Rate
Operating leases	5.2		%	4.4		%	3.6		%
Finance leases	5.7		%	4.1		%	3.2		%

Maturities of lease liabilities were as follows:


	December 31, 2023
	Operating Leases		Finance Leases
	(In thousands)
2024	$	36,916	$	62,306
2025	19,869		25,259
2026	12,752		11,436
2027	9,144		3,568
2028	6,017		2,511
Thereafter	20,488		12,913
Total future minimum lease payments	105,186		117,993
Less: Imputed interest	(14,733)		(12,438)
Total	$	90,453	$	105,555

As of December 31, 2023, we have entered into additional lease agreements that have not yet commenced of approximately $8 million.